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JULY KEY FIGURES

	May 2006	June 2006	July 2006	Jun 06 to Jul 06
	$m	$m	$m	% change
TREND
Balance on goods and services	-1 156	-1 090	-952	. .
Credits (exports of goods & services)	17 088	17 276	17 492	1
Debits (imports of goods & services)	18 244	18 366	18 444	-
SEASONALLY ADJUSTED
Balance on goods and services	-2 246	-635	-588	. .
Credits (exports of goods & services)	16 553	17 876	17 405	-3
Debits (imports of goods & services)	18 799	18 511	17 993	-3
. . not applicable
- nil or rounded to zero (including null cells)

Balance on goods and services

• The provisional trend estimate of the balance on goods and services was a deficit of $952m in July 2006, a decrease of $138m on the revised deficit in June.
• Goods and services credits rose $216m (1%) to $17,492m. Goods and services debits rose $78m to $18,444m.

• In seasonally adjusted terms, the balance on goods and services was a deficit of $588m in July, a decrease of $47m on the revised deficit in June.
• Goods and services credits fell $471m (3%) to $17,405m. Non-rural and other goods fell $590m (5%), while rural goods rose $54m (2%). Services credits rose $65m (2%).
• Goods and services debits fell $518m (3%) to $17,993m. Intermediate and other goods fell $305m (4%) and capital goods fell $265m (8%), while consumption goods rose $12m. Services debits rose $40m (1%).

• In original terms, the July balance on goods and services was a deficit of $107m, a decrease of $817m on the revised deficit in June. Goods and services credits rose $44m and goods and services debits fell $773m (4%).
• Non-rural and other goods were up $2.0b (19%) and rural goods were up $0.1b (5%) on the corresponding period in 2004-05.

• SITC 33411 - Motor Spirit (incl. gasoline)
• SITC 33419 - Light petroleum/bituminous oils (excl. crude); light preparations, nes
• BoPBEC OK02 - Motor Spirit
• BoPBEC OK03 - Other Petroleum Products

INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Olivia Lam on Canberra (02) 6252 5540.

ANALYSIS AND COMMENTS


BALANCE ON GOODS AND SERVICES

The trend estimate of the balance on goods and services in July 2006 was a deficit of $952m, a decrease of $138m on the deficit in June.

In seasonally adjusted terms, the balance on goods and services in July 2006 was a deficit of $588m, a decrease of $47m on the deficit in June.

EXPORTS OF GOODS AND SERVICES

The trend estimate of goods and services credits rose $216m (1%) between June and July to $17,492m.

In seasonally adjusted terms, goods and services credits fell $471m (3%) to $17,405m. Other goods fell $413m (29%), non-rural goods fell $177m (2%), while rural goods rose $54m (2%). Services credits rose $65m (2%).

Exports of goods

GOODS CREDITS

In seasonally adjusted terms, exports of rural goods rose $54m (2%) to $2,215m.

The movements in the seasonally adjusted components contributing to this rise were:

• cereal grains and cereal preparations, up $22m (5%)
• wool and sheepskins, up $16m (7%)
• other rural, up $16m (2%).

NON-RURAL GOODS

The trend estimate of non-rural goods exports rose $181m (2%) to $10,790m.

In seasonally adjusted terms, exports of non-rural goods fell $177m (2%) to $10,878m.

The main movements in the seasonally adjusted components contributing to the fall were:

• metal ores and minerals, down $259m (8%)
• transport equipment, down $89m (22%).

• other manufactures, up $79m (6%)
• other mineral fuels, up $63m (5%)
• metals (excluding non-monetary gold), up $23m (2%).

The main movement in the original series contributing to the fall in seasonally adjusted terms was:

• transport equipment, down $136m (32%), compared to an average June to July fall of 4% over the previous three years, of which:
  • road vehicles, down $99m (31%)
  • other transport equipment, down $37m (32%).

In seasonally adjusted terms, exports of other goods fell $413m (29%) to $1,012m.

The main component contributing to the fall in the seasonally adjusted series was non-monetary gold, down $401m (33%).

In original terms, exports of other goods fell $420m (29%) to $1,004m.

Exports of services

SERVICES CREDITS

Seasonally adjusted, services credits rose $65m (2%) to $3,300m.

All components contributed to the rise in the seasonally adjusted series with:

• other services, up $32m (4%)
• transportation services, up $18m (3%)
• travel services, up $15m (1%).

IMPORTS OF GOODS AND SERVICES

The trend estimate of goods and services debits rose $78m between June and July to $18,444m.

In seasonally adjusted terms, goods and services debits fell $518m (3%) to $17,993m. Intermediate and other merchandise goods fell $309m (5%) and capital goods fell $265m (8%), while consumption goods rose $12m and other goods rose $4m (1%). Services debits rose $40m (1%).

Imports of goods

GOODS DEBITS

In seasonally adjusted terms, imports of consumption goods rose $12m to $4,428m.

The components contributing to the rise in the seasonally adjusted estimates were:

• consumption goods n.e.s., up $49m (4%)
• food and beverages, mainly for consumption, up $18m (3%)
• textiles, clothing and footwear, up $6m (1%).

• non-industrial transport equipment, down $43m (4%)
• household electrical items, down $12m (3%)
• toys, books and leisure goods, down $6m (2%).

CAPITAL GOODS

The trend estimate of imports of capital goods fell $54m (2%) to $3,247m.

In seasonally adjusted terms, imports of capital goods fell $265m (8%) to $3,082m.

The main components contributing to the fall in the seasonally adjusted estimates were:

• industrial transport equipment n.e.s., down $102m (24%)
• civil aircraft, down $100m
• machinery and industrial equipment, down $72m (6%).

INTERMEDIATE AND OTHER MERCHANDISE GOODS

The trend estimate of imports of intermediate and other merchandise goods rose $62m (1%) to $6,639m.

In seasonally adjusted terms, intermediate and other merchandise goods imports fell $309m (5%) to $6,421m.

The main components contributing to the fall in the seasonally adjusted estimates were:

• fuels and lubricants, down $429m (19%)
• primary industrial supplies n.e.s., down $45m (32%)
• parts for ADP equipment, down $19m (11%).

• organic and inorganic chemicals, up $83m (29%)
• parts for transport equipment, up $46m (7%)
• processed industrial supplies n.e.s., up $27m (2%)
• other parts for capital equipment, up $18m (2%).

OTHER GOODS

The trend estimate of imports of other goods rose $14m (2%) to $794m.

In seasonally adjusted terms, other goods imports rose $4m (1%) to $712m.

The main components contributing to the small rise in the seasonally adjusted estimates were:

• goods for processing, up $115m
• goods procured in ports by carriers, up $7m (6%).

In original terms, other goods imports rose $9m (1%) to $716m.

Imports of services

SERVICES DEBITS

Seasonally adjusted, services debits rose $40m (1%) to $3,350m.

All components contributed to the rise in the seasonally adjusted series with:

• travel services, up $32m (3%)
• other services, up $6m (1%)
• transportation services, up $2m.